In auctions, the winner always pays a price equal to the highest (his) bid
Indicate whether the statement is true or false
False. There are also second-price auctions in which the winner pays a price equal to the second highest bid.
Economics
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Everything else held constant, a decrease in the currency ratio will mean ________ in the M1 money multiplier and ________ in the M2 money multiplier
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Economics
Assume that an economy has 50 workers, each of whom works 3000 hours per year. If labor productivity is $8, total output for this economy will be:
A. $150,000. B. $1,200,000. C. $750,000. D. $1,000,000.
Economics